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Wireless auction raises $5.27B; Rogers biggest spender
OTTAWA – The federal government raked in $5.27 billion in the latest wireless spectrum auction, the most Ottawa has ever taken in such a process.
The biggest buyer was Rogers (TSX:RCI.B), which paid $3.29 billion for 22 licenses.
Telus (TSX:T) spent just over $1.14 billion for 30 licenses, while Bell spent (TSX:BCE) $565.7 million for 31 licenses.
The auction saw some 10 bidders participate, with eight of them winning licenses.
The airwaves up for grabs are considered particularly valuable because they allow signals to travel further and penetrate buildings and tunnels where calls are often dropped.
They became available after television broadcasters switched to digital signals.
The previous auction in 2008 raised $4.3 billion for federal coffers and saw the addition of several new wireless companies.
Another auction for wireless licenses for the 2,500 megahertz band is set for April 2015.
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